NEW YORK, September 4, 2022 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Abbott Laboratories securities (NYSE: ABT) between February 19, 2021 and June 8, 2022, both dates inclusive (the “Class Period”). If you wish to act as lead plaintiff, you must move the Court not later than October 31, 2022.
SO WHAT: If you purchased Abbott securities during the Class Period, you may be entitled to compensation without payment of disbursements or fees through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Abbott class action, go to https://rosenlegal.com/submit-form/?case_id=8453 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than October 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) according to the US Food and Drug Administration (“FDA”) States, Abbott had “extremely unsanitary” conditions at his Sturgis, Mich. facility that produced nearly half of Abbott’s various forms of infant formula under the Similac, Alimentum and EleCare brands; (2) as a result, Abbott’s infant formula business was in serious jeopardy given gross violations of federal and state health and safety regulations; (3) based on inspections by the FDA between 2019 and 2022, Abbott failed to establish process controls “designed to ensure infant formula is not adulterated due to the presence of micro -organisms in the formula or in the processing environment” and Abbott also failed to “ensure that all surfaces that came into contact with infant formula were maintained to protect the infant formula from being contaminated by any source”; (4) the unsanitary conditions of the Sturgis led to the recall of Abbott’s infant formula and the closure of the factory Sturgis ease; and (5) therefore, the defendants’ public statements about Abbott’s business, operations and prospects were materially false and misleading at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the Abbott class action, go to https://rosenlegal.com/submit-form/?case_id=8453 mailto:or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Lawyer advertisement. Previous results do not guarantee a similar result.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania